🌳 Labour’s Projected Majority Indicates Political Shift; Treehouse Launches New Brand to Drive Digital Asset Innovation

Macro & TradFi

The UK Labour Party (https://www.ft.com/content/856c2d0b-a60e-4359-8e2c-285a59dbfc92) is projected to secure a substantial 170-seat majority in the UK general election, according to a national exit poll. This indicates a significant shift in political power, with Rishi Sunak's Conservatives anticipated to suffer their worst defeat in history, obtaining only 131 seats. Labour, under Sir Keir Starmer, is expected to hold 410 out of 650 seats in the House of Commons. This result reflects a desire for change among British voters after 14 years of Conservative rule. Sterling showed minimal movement following the release of exit polls, trading at approximately $1.276, up 0.1% for the day, with little change against the euro at 84.71 pence. This stability suggests that investors are relieved by the prospect of a decisive Labour victory, which alleviates concerns about UK political risk.

In other news, the European Central Bank (ECB) (https://www.ft.com/content/843be5fa-9f22-458c-b3c7-eb5e2ca252d5) minutes revealed significant doubts among policymakers regarding the recent interest rate cut from 4% to 3.75% in June. Despite ECB President Christine Lagarde's assertion that only one council member opposed the cut, several members expressed concerns due to rising wages and persistent inflation, particularly in the services sector. These reservations suggest that future rate cuts might be on hold, with markets anticipating two more quarter-point reductions this year. The ECB's cautious stance reflects unease over domestic inflation, which remains elevated despite recent reductions. This deliberation underscores the challenges the ECB faces in balancing economic recovery with inflation control.

With US markets closed for Independence Day, European stocks saw gains, driven primarily by French equities amid rising optimism about potential Federal Reserve rate cuts following weak US economic data. France’s CAC 40 index advanced for a second consecutive day ahead of the final round of voting in the snap parliamentary elections. Market sentiment suggests Marine Le Pen's National Rally is unlikely to secure a majority, potentially resulting in a hung parliament, which traders view as maintaining the status quo. Attention now turns to the upcoming US economic data release, including Nonfarm Payrolls, unemployment rate, and average hourly earnings, due tonight at 20:30 SGT.

DeFi & CeFi

   •   Treehouse rebrands to Treehouse Labs TRHX and Treehouse as the new arms

   •   Analysts expect changes to crypto rules in the UK following the election

   •   Mt Gox moves $2.7B worth of BTC

   •   Hamster Kombat hits 239M users in 81 days

   •   Aptos launches keyless wallets that use ZK-proofs

   •   Justin Sun offers to buy German government’s Bitcoin stack

Treehouse (https://treehouselabs.xyz/blog/introducing-treehouse-labs) has unveiled a transformative step forward with the launch of its new brand identity, aiming to lead digital asset innovation through two distinct branches: TRHX for professionals and Treehouse for decentralized products. This strategic evolution reflects Treehouse Labs' commitment to enhancing accessibility and clarity within the digital assets ecosystem. TRHX will continue to cater to professionals with tools like Hyperion for portfolio management and TRHX Research for market insights, while Treehouse focuses on pioneering decentralized financial solutions such as tAssets and Decentralized Offered Rates (DOR) on Ethereum. These initiatives are poised to democratize access to financial opportunities previously limited to institutional players, marking a significant advancement in the integration of traditional finance with digital assets.

🌳 Labour’s Projected Majority Indicates Political Shift; Treehouse Launches New Brand to Drive Digital Asset Innovation

Macro & TradFi

The UK Labour Party (https://www.ft.com/content/856c2d0b-a60e-4359-8e2c-285a59dbfc92) is projected to secure a substantial 170-seat majority in the UK general election, according to a national exit poll. This indicates a significant shift in political power, with Rishi Sunak's Conservatives anticipated to suffer their worst defeat in history, obtaining only 131 seats. Labour, under Sir Keir Starmer, is expected to hold 410 out of 650 seats in the House of Commons. This result reflects a desire for change among British voters after 14 years of Conservative rule. Sterling showed minimal movement following the release of exit polls, trading at approximately $1.276, up 0.1% for the day, with little change against the euro at 84.71 pence. This stability suggests that investors are relieved by the prospect of a decisive Labour victory, which alleviates concerns about UK political risk.

In other news, the European Central Bank (ECB) (https://www.ft.com/content/843be5fa-9f22-458c-b3c7-eb5e2ca252d5) minutes revealed significant doubts among policymakers regarding the recent interest rate cut from 4% to 3.75% in June. Despite ECB President Christine Lagarde's assertion that only one council member opposed the cut, several members expressed concerns due to rising wages and persistent inflation, particularly in the services sector. These reservations suggest that future rate cuts might be on hold, with markets anticipating two more quarter-point reductions this year. The ECB's cautious stance reflects unease over domestic inflation, which remains elevated despite recent reductions. This deliberation underscores the challenges the ECB faces in balancing economic recovery with inflation control.

With US markets closed for Independence Day, European stocks saw gains, driven primarily by French equities amid rising optimism about potential Federal Reserve rate cuts following weak US economic data. France’s CAC 40 index advanced for a second consecutive day ahead of the final round of voting in the snap parliamentary elections. Market sentiment suggests Marine Le Pen's National Rally is unlikely to secure a majority, potentially resulting in a hung parliament, which traders view as maintaining the status quo. Attention now turns to the upcoming US economic data release, including Nonfarm Payrolls, unemployment rate, and average hourly earnings, due tonight at 20:30 SGT.

DeFi & CeFi

   •   Treehouse rebrands to Treehouse Labs TRHX and Treehouse as the new arms

   •   Analysts expect changes to crypto rules in the UK following the election

   •   Mt Gox moves $2.7B worth of BTC

   •   Hamster Kombat hits 239M users in 81 days

   •   Aptos launches keyless wallets that use ZK-proofs

   •   Justin Sun offers to buy German government’s Bitcoin stack

Treehouse (https://treehouselabs.xyz/blog/introducing-treehouse-labs) has unveiled a transformative step forward with the launch of its new brand identity, aiming to lead digital asset innovation through two distinct branches: TRHX for professionals and Treehouse for decentralized products. This strategic evolution reflects Treehouse Labs' commitment to enhancing accessibility and clarity within the digital assets ecosystem. TRHX will continue to cater to professionals with tools like Hyperion for portfolio management and TRHX Research for market insights, while Treehouse focuses on pioneering decentralized financial solutions such as tAssets and Decentralized Offered Rates (DOR) on Ethereum. These initiatives are poised to democratize access to financial opportunities previously limited to institutional players, marking a significant advancement in the integration of traditional finance with digital assets.